Blue Trust Inc. Raises Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Blue Trust Inc. lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,499 shares of the semiconductor company’s stock after buying an additional 1,050 shares during the period. Blue Trust Inc.’s holdings in Cirrus Logic were worth $647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRUS. Impact Partnership Wealth LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $244,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic in the 4th quarter valued at $46,000. Janney Montgomery Scott LLC boosted its stake in Cirrus Logic by 8.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 2,992 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 221 shares during the period. Bartlett & CO. Wealth Management LLC grew its position in Cirrus Logic by 40.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 200 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Cirrus Logic by 52.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 47,695 shares of the semiconductor company’s stock valued at $4,749,000 after purchasing an additional 16,393 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CRUS shares. Stifel Nicolaus lowered their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Susquehanna lifted their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Barclays lowered their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, Loop Capital began coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $99.29 on Friday. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.83 and a beta of 0.92. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46. The stock has a fifty day moving average price of $102.83 and a two-hundred day moving average price of $117.33.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same quarter last year, the firm posted $1.43 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Cirrus Logic Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.